Authors: Sunran Jeon, Sung Tae Kim, Dong Hyun Lee
Addresses: College of Business Administration, Butler University, 218 CBA, 4600 Sunset Ave., Indianapolis, IN 46208, USA. ' Department of Management, 209 College of Business Administration, University of Nebraska-Lincoln, P.O. Box 880491, Lincoln, NE 68588-0491, USA. ' Department of Management, 209 College of Business Administration, University of Nebraska-Lincoln, P.O. Box 880491, Lincoln, NE 68588-0491, USA
Abstract: The focus of this study is to propose new internet business models using Web 2.0 applications. Based on the analysis of existing research and industry reports, we classify five basic business models: crowdsourcing, social networking, mashup, product customisation, and open market. These Web 2.0 business models can help create value by increasing efficiency in a company|s value chain, delivering new customer value, and expanding the market base. This research provides a good foundation for developing new conceptual and empirical research in this area of IT research.
Keywords: Web 2.0; crowdsourcing; social networking; product customisation; mashup; open market; value creation; business models; value chain.
International Journal of Information and Decision Sciences, 2011 Vol.3 No.1, pp.70 - 84
Published online: 04 Mar 2011 *Full-text access for editors Access for subscribers Purchase this article Comment on this article